DMO Raises N124 Billion In July FGN Bond Auction As Investors Oversubscribe Long-Term Instrument.
The Debt Management Office (DMO) has announced that it raised the total sum of N123.84 billion; in its Federal Government…
Category: Local
Crypto Lender Celsius Defends Bitcoin Mining Plans As Bankruptcy Kicks Off.
Cryptocurrency lender Celsius Network said bitcoin mining is key to the company’s restructuring efforts. New Jersey-based Celsius received approval from…
Bank Of America Puts Aside $200 Million For Probe Into Bankers’ Use Of Personal Devices.
Bank of America (BAC.N) has set aside around $200 million for a regulatory matter connected to the unauthorized use of…
Lawsuit Accuses Apple Of Antitrust Violations Over Apple Pay.
Apple Inc (AAPL.O) was sued in a proposed class action by payment card issuers accusing the iPhone maker; of abusing…
More Worries Over Rising Inflation, Headwinds As MPC Meets Today
In the face of economic and financial challenges, members of the rate-fixing arm of the Central Bank of Nigeria and…
BlackRock Misses Profit Estimates, Pulls Back Hiring After Market Turbulence
BlackRock Inc said it is tightening its belt and putting off some hiring amid an economic environment; that has spooked…
ECOWAS Court Tags Twitter Ban “unlawful and a violation of rights of Nigerians”
The ECOWAS Community Court of Justice has declared that the federal government’s order to ban Twitter in June 2021 was…
Trade Unions Pull Out Of Maritime Council Over Breach Of Agreements
Maritime Workers Union of Nigeria says it has withdrawn its membership from the Council of Maritime Transport Unions and Associations…
Dangote Cement Signs 5-Year Agreement On Development With Host Communities
Dangote Cement has signed a five-year community development agreement with its Ibese Plant host communities in Ogun State. The contract serves as…
Ogun Inaugurates W’Africa’s First Fibre Optic Cable Factory- Nigeria.
The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo and the Executive Secretary of the Nigerian Content Development and…
Anti-Corruption Agencies May Recover IOCs $6.4bn Debt – NEITI.
The Nigeria Extractive Industries Transparency Initiative threatened oil firms operating in the country that it would not hesitate to activate…
Mutual Funds Rebound, Assets Hit $3.64bn – Report.
After suffering decline in 2021, Nigeria’s assets under management in mutual funds rose to $3.64tn in the first five months…
Crude Oil Theft In Nigeria Is “Organized Crime”–Chevron Nigeria CEO.
Crude oil theft in Nigeria is an organized crime and should be differentiated completely from host community issues. This is…
Nigerian States Pay N21.62 Billion As External Debt Deductions In Q1 2022
Thirty-six states of the federation parted with a sum of N21.62 billion; as external debt deductions in the first quarter…
Why Gold Prices Are Falling Despite High Inflation.
As the greenback stayed close to a two-decade high on international markets; the yellow shining metal today dropped to nine-month…
FG Approves N400 Billion For Conditional Cash Transfer, Farmer Money, others- Nigeria.
The Federal Government has approved the sum of N400 billion under the National Poverty Reduction and Growth Strategy (NPRGS). Which…
Oil Rises On Prospects Of Less Aggressive U.S. Rate Hike
Oil prices rose amid prospects of a less aggressive U.S. rate hike; although worries about a recovery in demand capped…
TomTom’s Quarterly Loss Widens As Inflation, Supply Chain Issues Weigh.
Dutch navigation and digital mapping company TomTom (TOM2.AS) reported worse-than-expected loss for the second quarter, citing high inflation and strained…
S&P 500, Dow Close Lower After Bank Earnings, Inflation Data.
The S&P 500 (.SPX) pared early losses to close modestly lower, after investors digested disappointing quarterly results from two large…
Lagos To Launch New Electronic ID Card for Residents
Lagos State Government is set to roll out smart i.d cards for residents of the State through the LSRRA The…
Fidson Plans N1 Billion Dividend Bonus Shares For Shareholders
Fidson Healthcare sets to pay shareholders over N1 billion in dividends and also issue them one new share for every…
Telecom Giant MTN, BOI Offers Training And Grants Worth N2 Million To Female Entrepreneurs
Nigeria’s Bank of Industry and telecoms company, MTN, have announced a business initiative that will train female entrepreneurs and provide them…
CBN To Introduce USSD Code To Improve E-Naira
The Central Bank of Nigeria says it is set to introduce the USSD code as part of steps to improve the…
41 Million Get NINs To Escape SIM Ban.
Over 41.59 million Nigerians have obtained their National Identification Numbers; since the Federal Government first banned the sales of SIM…
Neimeth Moves To Float N3.67bn Rights Issue
Neimeth International Pharmaceuticals Plc held a completion board meeting in Lagos; to float a rights issue of N3.67bn through the…
Why 100 Basis Point Interest Rate Hike Spells Doom For Bitcoin And Crypto Market.
The Federal Reserve is to raise interest rates by 100 basis points. Which would be the biggest rise since it…
NNPC Blocks Exxon Mobil’s Asset Sale To Seplat-Nigeria.
THE Nigerian National Petroleum Company Limited has won a court decision temporarily blocking Exxon Mobil Corporation; from selling assets in…
Anambra Traders Lament New Tax Regime.
TRADERS at various markets in Anambra State, particularly Eke Awka market in Awka South Local Government Area; are lamenting the…
Bear Curve Flattening Underway, Public Debt Rises In Q1 2022 And Corporate Tax Collections Accelerate To 7-Year Highs.
Mixed trends along the curve as short-term rates rise while long-dated bonds recline; The divergent trends along the Naira yield curve…
Naira Falls To N620/$1 At Peer-To-Peer Market As FX Scarcity Persists.
The exchange rate between the naira and the US dollar closed at N424.58/$1 at the Investors. And Exporters (I&E) window,…